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Turkey overflowing with $36 billion in mystery funds

Inflowing money from unknown sources during Turkey's 12 years of AKP rule totals $36 billion.
A demonstrator holds toilet paper made from fake U.S. dollars during a protest against Turkey's Prime Minister Tayyip Erdogan and his ruling Ak Party (AKP) government in Ankara February 27, 2014. An audio recording purporting to be of Erdogan giving his son business advice has been published on YouTube, following one earlier in the week that fuelled a corruption scandal and unnerved markets. Erdogan said a similar post on the video-sharing site YouTube on Monday, allegedly of him telling his son Bilal to di

The pace of foreign currency coming to Turkey from unknown sources for the past 12 years keeps on climbing. Nobody says where the money is coming from. In the Central Bank’s “balance of payments” table these unregistered funds are shown under the item “net error and deficit.”

But all economists know that it is impossible to conceal such high amounts. Anyhow, they have learned to look under the “net error and deficit” column to follow the movement of mystery funds.

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